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<a target="_blank" href="/news"><img src="/images/stories/2012/10/1point3m.gif"></a>
The <a target="_blank" href="/news">price Socceroo Jason Culina and his wife, Terri, spent to buy a colonial mansion</a> at Ingleburn in Sydney's western suburbs. It's one of NSW's most significant colonial palladian houses, Denham Court, and was built by Captain Richard Brooks, the enterprising sailor who settled at the Ingleburn holding in 1820.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-and-brisbane-heading-into-property-market-upswing-louis-christopher/2012100857033"><img src="/images/stories/2012/10/630.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-and-brisbane-heading-into-property-market-upswing-louis-christopher/2012100857033">time on the "property clock" for Perth houses and units</a>, according to SQM Research director Louis Christopher. This indicates the market has just bottomed out and heading into an upswing.
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/geoff-cousins-seeks-%2413-million-plus-whale-beach-buyers/2012100857046"><img src="/images/stories/2012/10/13mplus.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/geoff-cousins-seeks-%2413-million-plus-whale-beach-buyers/2012100857046"> price hopes Geoff Cousins</a>, the adman-turned-environmental activist and author, has for his six bedroom beach house at Whale Beach. Named ‘The Wedge’, after the famous surf beach break at the northern corner of Whale Beach, the home occupies nearly 1,440 square metres.
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/340k.gif"></a>
The price, exclusive of GST, an investor has paid at auction for a two-level brick retail building on three titles on <a target="_blank" href="/news">Ryrie Street</a>, a Geelong café and speciality retail strip surrounded by medical and professional services premises. The investor, who hails from Rosebud on the Mornington Peninsula, will acquire some of the property via his self-managed super fund.
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/2point4m.gif"></a>
The price of the most expensive property sold this week. The<a target="_blank" href="/news"> four-bedroom McMahons Point house</a> sold significantly above its expectations, having been listed in mid-September with a price guide over $1.9 million.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/spring-brings-a-40-increase-in-property-on-the-market-in-prahran-hockingstuart/2012101057082"><img src="/images/stories/2012/10/40percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/spring-brings-a-40-increase-in-property-on-the-market-in-prahran-hockingstuart/2012101057082">increase in stock on market in Prahran</a> from winter to spring, according to hockingstuart. "September was busy, but October will be hectic," says the agency's Andrew James.
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-s-surry-hills-ranked-23rd-most-stylish-neighbourhood-in-the-world/2012101157094"><img src="/images/stories/2012/10/23.gif"></a>
The ranking of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-s-surry-hills-ranked-23rd-most-stylish-neighbourhood-in-the-world/2012101157094">Surry Hills, Sydney, on Complex magazine's list </a>of the most stylish neighbourhoods in the world. “Crown Street, the heart of the neighbourhood, is where you'll find all of the restaurants, bars, and coffee shops,” author Julian Kimble writes.
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The 7 must-know numbers of the week, starting with Socceroo Jason Culina's Ingleburn purchase price

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3/2 Wallaringa Avenue, Neutral Bay, NSW, 2089 <img src="/images/stories/2012/10/wallaringa.jpg" width="470">
In a pet-friendly block of six, this light and airy one-bedroom apartment has 42 square metres of internal space. It includes off-street parking and attic storage space. The unit is currently tenanted at $455 a week until March 2013. The property is within walking distance of ferries, bus services and Neutral Bay shops. 
Ray White agents James Kuziow and Mary Curran<a href="https://www.raywhite.com/nsw/neutral-bay/851180/" target="_blank"> are marketing the property</a><a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $450,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.3% at its current rent,  above the gross rental yield for Neutral Bay units of 4.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The median unit price in Neutral Bay rose 2.9% in the past year and 24.7% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Neutral Bay, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 5.3% in Neutral Bay

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For the everyday consumer, spring begins in September. For the property market, it also technically starts in September, but as a real estate agent our activity actually ramps up much earlier. We’re preparing for the season as early as June, and come July we know whether spring will be busy by the number of upcoming listings in our books.
So it came as no surprise to see a 40% increase in our stock this season from winter – September was busy, but October will be hectic. Our clearance rate is at 81%, and properties are selling quickly, with average days on market sitting at just 24 days.
Prahran has weathered the storm quite well compared with other Melbourne suburbs, a good reminder that the property market is actually made up of multiple “sub-markets”. While sales activity has certainly picked up for us since winter, in general our levels all year round have remained consistent, with auctions remaining popular and clearance rates hovering around 80%. In fact, according to RP Data’s top 100 growth suburbs nationwide, Prahran topped the list in Melbourne.
Why? Our popularity comes down to one factor – affordability. It’s one of the few inner-city suburbs where you can still pick up a period home located close to shops, restaurants and public transport for under $1 million. Add multiple interest rate cuts to the table and there’s never been a better time for young couples to buy into a lifestyle location and still set themselves up for a family. We’re expecting a lot of interest at this weekend’s auctions for <a target="_blank" href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=4456523&amp;Con=S">1 Chatsworth Road</a> and <a target="_blank" href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=4424173&amp;Con=S">82 Bendigo Street</a>, with Chatsworth priced within a $700,000 to $750,000 range and $760,000 to $830,000 for Bendigo. The properties at <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/VIC/Prahran/?adid=2010038374">82 Hornby Street</a> and <a target="_blank" href="https://www.realestate.com.au/property-house-vic-prahran-111773603">9B Percy Street</a> will also fare well because of their proximity to the Chapel Street precinct.
 
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Having said that, over the past month we’ve also noticed an influx of buyers return to the sub-$1 million market, and demand is back for Edwardian and Victorian-style homes. Again, these buyers – particularly those with double-income and no kids – are driven by affordability and see the opportunity to jump into a stable market before prices start increasing again.
From a seller’s point of view, an interesting trend we’ve picked up is a growing investment in online advertising. Ten years ago, advertising was dominated by brochures, property boards and print. Today, while traditional methods are still present and will continue to play a crucial part in selling houses, the focus is shifting to online. This is reflective of the new generation of buyers who are online savvy, with the majority using the internet as one of their main tools to look for property – sellers are following suit. However, no two properties are the same, and in the same way that prices vary depending on the property, the same rule applies to advertising. There will be properties that sell better online, some better in print, but often the most effective advertising campaigns use multiple touch points.
Looking ahead, we expect the market in Prahran to remain strong. Further interest rate cuts will help drive confidence, but growth in house prices will be gradual – we’re not going to see the price hikes we saw in the years leading up to 2010. However don’t forget the Melbourne real estate market is made up of multiple sub-markets, so it will be a different case for each suburb – where one area might be seeing rapid growth, another might be depreciating in value. Prahran will fare well because of its affordability, prime location and amenities, but it won’t necessarily be the same for the next suburb. Statewide, the market is still finding its feet so there’s great value for buyers ready to take the plunge now – as long as you do your due diligence on the area.
Andrew James has more than a 20 years’ experience in real estate and is director of <a target="_blank" href="https://www.hockingstuart.com.au/">hockingstuart </a>Armadale.
What do you think spring holds for the property market? <a href="http://propertyobserver.com.au/ebooks/the-spring-property-outlook-survey" target="_blank">Complete our five-minute survey for your chance to win an iPhone 5.</a>
For more on auctions and the spring selling season, <a href="http://propertyobserver.com.au/ebooks/free-ebook-auction-or-private-treaty-plus-9-spring-2012-selling-tips" target="_blank">download our free eBook.</a>
 
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Spring brings a 40% increase in property on the market in Prahran: Hockingstuart

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A four-bedroom McMahons Point house is this week's top sale, according to RP Data, although it sold for just $2.4 million.
It sold significantly above its expectations, having been listed in mid-September with a price guide over $1.9 million. 
Selling agent Annika Robins of McGrath says there were 12 bidders at the auction, pushing the price well over its $2 million reserve. It was a deceased estate sale and was the first time the house had ever been on the market.
The property has expansive views over Berry Bay to Balls Head.
Eight of the top 10 sales of the week are in NSW, with two in Victoria.
1. <a href="https://www.myrp.com.au/n/5-commodore-crescent-mcmahons-point-nsw-2060/myrp-490?propertyId=4167447" target="_blank">5 Commodore Crescent, McMahons Point, NSW, 2060</a>, four-bedroom house, sold at auction on October 6 by McGrath Estate Agents for $2.4 million
2. <a href="https://www.myrp.com.au/n/87-culver-street-monterey-nsw-2217/myrp-490?propertyId=4399319" target="_blank">87 Culver Street, Monterey, NSW, 2217</a>, five-bedroom house, sold at auction on October 6 by Raine &amp; Horne Sans Souci for $1.81 million
3. <a href="https://www.myrp.com.au/n/24-thoresby-grove-ivanhoe-vic-3079/myrp-490?propertyId=11299599" target="_blank">24 Thoresby Grove, Ivanhoe, VIC, 3079</a>, four-bedroom house, sold at auction on October 6 by Miles Real Estate for $1.605 million
4. <a href="https://www.myrp.com.au/n/80-sunnybrook-drive-wheelers-hill-vic-3150/myrp-490?propertyId=13808159" target="_blank">80 Sunnybrook Drive, Wheelers Hill, VIC, 3150</a>, three-bedroom house, sold at auction on October 6 by Ray White Real Estate Glen Waverley for $1.54 million
5. 6 Roma Street, North Epping, NSW, 2121, four-bedroom house, sold prior to auction on October 6 by McGrath Estate Agents for $1.5 million
6. <a href="https://www.myrp.com.au/n/20-fewings-street-clovelly-nsw-2031/myrp-490?propertyId=1863329" target="_blank">20 Fewings Street, Clovelly, NSW, 2031</a>, three-bedroom house, sold at auction on October 2 by Ke3 Property for $1.455 million
7. <a href="https://www.myrp.com.au/n/62-lancaster-road-dover-heights-nsw-2030/myrp-490?propertyId=2120867" target="_blank">62 Lancaster Road, Dover Heights, NSW, 2030</a>, three-bedroom house, sold at auction on October 6 by Laing + Simmons Double Bay for $1.425 million
8. <a href="https://www.myrp.com.au/n/179-wilson-street-newtown-nsw-2042/myrp-490?propertyId=4897135" target="_blank">179 Wilson Street, Newtown, NSW, 2042</a>, three-bedroom house, sold at auction on October 6 by Ray White Surry Hills / Alexandria for $1.36 million
9. <a href="https://www.myrp.com.au/n/64-redmond-street-leichhardt-nsw-2040/myrp-490?propertyId=3676180" target="_blank">64 Redmond Street, Leichhardt, NSW, 2040</a>, three-bedroom house, sold at auction on October 6 by McGrath Estate Agents for $1.262 million
10. <a href="https://www.myrp.com.au/n/38-yeend-street-merrylands-nsw-2160/myrp-490?propertyId=4260191" target="_blank">38 Yeend Street, Merrylands, NSW, 2160</a>, six-bedroom house, sold prior to auction on October 6 by McGrath Estate Agents for $1.25 million 
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No super-prestige results as $2.4 million McMahons Point house takes out top sale of the week: RP Data

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19/44 Fitzroy Street, St Kilda, VIC, 3182
<img src="/images/stories/2012/09/kingsclere.jpg" width="470">
On the second floor of a Fitzroy Street, St Kilda, block, this one-bedroom apartment is currently vacant but could be expected to secure a rental of $360 to $370 per week, according to listing agent Carl Hexter of Biggin Scott. It sold at its weekend auction to an investor for $445,000. There were three registered bidders. The apartment includes a separate study and an ornamental fireplace and is within metres of Fitzroy Street trams, cafes, restaurants and bars.
Hexter gave pre-auction price hopes of $380,000 plus and says the reserve was $410,000. If it is rented at $370, that would secure a gross rental yield at the median gross rental yield for St Kilda units of 4.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property was last rented for about $320 per week, which would provide a gross rental yield of about 3.7%.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The median unit price in St Kilda fell 0.6% in the past year but rose 37.9% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">St Kilda, see the RP Data suburb page.</a>
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Investor form guide wrap: Yields of up to 4.3% in St Kilda

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House and unit prices have been on the rise for the past six months while property prices fell in regional Victoria, according to graphs released by the Real Estate Institute of Victoria. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/reivoct9.gif"><img src="/images/stories/2012/10/reivoct9thumb.gif"></a>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/reivoct91.gif"><img src="/images/stories/2012/10/reivoct91thumb.gif"></a>
The charts, part of a REIV presentation at the Melbourne Home Buyer and Property Investor Show, also show that over the past 10 years the median Melbourne house and unit prices have risen in fits and starts, while regional Victoria has shown more steady, even growth. 
For example, house and unit prices in Melbourne show a sharp spike in 2007, whereas growth is more measured across regional Victoria. 
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Regional Victorian property prices have shown long-term mild growth: REIV

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Melbourne landlords who find they are not receiving multiple enquiries every week about their vacant rental properties need to lower their rental expectations, according to Leah Calnan, director of Metro Property Management.
Speaking at yesterday’s Melbourne Home Buyer &amp; Property Investor Show, Calnan described the Melbourne rental market as “a little bit tough” for landlords for the past year.
“If your enquiries are minimal, it’s a price point issue,” Calnan said.
She said Melbourne landlords should not always expect to receive the same rent or more for a property as tenants changed.
“You have to change with the market,” she said.
“It’s much better for you to receive 90% of that $500 a week, for example, than no money at all.”
She also pointed out that prospective tenants searched in price “blocks” – for example, $450-$495, and so landlords could appeal to a broader range of renters by ensuring the rent fell within that block. She said a difference of $5 a week, from $500 to $495, could entice prospective tenants who otherwise would not see the property in internet searches.
In addition to reducing their rental expectations, Calnan suggested landlords offer prospective tenants sweeteners and incentives to make their properties stand out. She suggested a free barbecue, free 12-month Foxtel contract, a Coles/Myer voucher or paying for the cost of removalists in order to entice tenants.
“For you it’s a tax deduction, but it’ll make the property more attractive to tenants,” Calnan said.
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Melbourne landlords might need to lower rent to fill vacant properties: Leah Calnan

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More than two and a half years after marketing began, sales have picked up steam for luxury Gold Coast development Salacia Waters.
Marketing began for the 131-unit, 13-villa project in January 2010, and thus far there have been 33 sales, about two-thirds of those since July this year.
Julian Sutherland of Ray White says buyers on the Gold Coast are coming out of a "post-GFC hibernation".
“Investors and owner-occupiers alike are attracted by the opportunity to pounce on the value presently on offer at Salacia Waters, where apartments are available from $400,000,” he says.
<img src="/images/stories/2012/09/salacia1.jpg">
Sutherland says the $15,000 Queensland first-home owner construction grant, which replaced the $7,000 first-home owner grant in early September following the announcement of the Queensland budget, has helped spark sales at Salacia Waters.
“This value proposition in such a quality waterfront development combined with a lower interest rate environment and the reinstatement of a stamp duty exemption have galvanised buyers to act,” he says.
Other property commentators have also suggested a recent turnaround in the Gold Coast, with SQM Research director saying the market in the area is “showing signs of bottoming out”.
In February this year Christopher said he agreed with comments made by Sunrise presenter David Koch that the Gold Coast property market was "catastrophic".
<img src="/images/stories/2012/09/salacia2.jpg">
Also last week, Midwood Report author Bill Morris pointed out that the amount of high-rise apartment stock on the Gold Coast had halved in the past two years.
“There should no longer be the perception that Gold Coast high-rise apartments are oversupplied,” Morris said.
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Salacia Waters units range in size from 97 square metres to 369 square metres and are priced from $399,000, with luxury villas priced from $740,000.
Sutherland says they should appeal to investors as well as owner-occupiers in the area.
“With the city facing a dwindling supply of apartments, particularly in waterfront locations, investors are well positioned for strong income flows," Sutherland says.
<img src="/images/stories/2012/09/salacia3.jpg">
The first stage of the development was finished in October 2010, but planned future stages were put on hold due to poor sales and the struggling Gold Coast market.
Sutherland says developer Lotte Engineering and Construction is hoping the recent upsurge in buyer activity would enable the developer to continue with further stages.
Salacia Waters is in Paradise Point and surrounded on three sides by water. The development includes a 72-berth marina with deepwater access for keen yachties.
Lifestyle amenities in the building include a gymnasium and several swimming pools.
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After slow marketing start, sales picking up at Salacia Waters as Gold Coast market shows signs of life

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11/15 Eddys Grove, Bentleigh, Victoria 3204
<img src="/images/stories/2012/09/eddys.jpg" width="470">
This two-bedroom, low-maintenance unit is currently tenanted on a month-to-month lease at $295 per week. Buxton agent Heather Steadman says the identical adjacent unit rents for $350 per week, but without some renovation work unit 11 is unlikely to command much more than $295. It is within walking distance of Centre Road shops, cafes and the train station, which is in zone 1. 
Steadman<a target="_blank" href="https://www.buxton.com.au/"> is marketing the property </a>with price hopes of $380,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 4% at its current rent,  above the gross rental yield for Bentleigh units of 3.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000.
The median unit price in Bentleigh fell 8.6% in the past year but rose 39.5% in the past five years, according to RP Data.
The property will be open for inspection Saturday, October 13 at 10.45am and will go to auction Saturday, October 20 at 12.30pm.
For more information about prices and yields in <a href="/news">Bentleigh, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 4% in Bentleigh

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/cheapest-of-rp-datas-100-growth-suburbs-grenfell-rising-property-values-would-have-inspired-native-son-henry-lawson/2012100156909"><img src="/images/stories/2012/09/150k.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/cheapest-of-rp-datas-100-growth-suburbs-grenfell-rising-property-values-would-have-inspired-native-son-henry-lawson/2012100156909"> approximate median house price in the NSW regional town of Grenfell</a>, the cheapest entry on RP Data's list of the top 100 growth suburbs. Prices have increased 20% in the past year in the town, which is the place of bush poet Henry Lawson's birth.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888"><img src="/images/stories/2012/09/13percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888">percentage of Australians polled by UMR who supported the sale of Cubbie Station to Chinese investors</a>. Some 63% of Australians are opposed to the sale of the southern Queensland property to overseas interests, with 24% unsure.
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<a target="_blank" href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889"><img src="/images/stories/2012/09/3m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889">price hopes for Mintaro</a>, the 1882 Monegeetta, Sunbury district mansion. It's a smaller replica of Melbourne's Government House, which was built by a Captain Robert Gardiner to a design by architect James Gall. The 9.9-hectare estate is an executor's sale, which will conclude 78 years of family ownership by the Rae family.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/53percent.gif"></a>
The <a target="_blank" href="/news">percentage of Australian households who have no income left at the end of the month</a> once they have paid their mortgage and other bills, according to ME Bank. The report found that 43% of households break even and 10% spend more than they earn by drawing on savings, loans, credit or equity in their homes.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/3point25percent.gif"></a>
The<a target="_blank" href="/news"> current cash rate, after the RBA cut rates on Tuesday</a> by 25 basis points. This is the lowest the cash rate has been since October 2009.
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/surprise-14-rise-in-capital-city-dwelling-values-highest-in-30-months-but-moderate-growth-ahead-rp-data-rismark/2012100256920"><img src="/images/stories/2012/09/1point4percent.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/residential/surprise-14-rise-in-capital-city-dwelling-values-highest-in-30-months-but-moderate-growth-ahead-rp-data-rismark/2012100256920"> increase in house prices in September across Australia</a>, according to RP Data. The result was the largest month-on-month rise recorded since March 2010 and means that capital city dwelling values are now 0.8% higher over the first nine months of 2012, with a median dwelling price of $450,500.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/4point5mplus.gif"></a>
The <a target="_blank" href="/news">price hopes for the Princeton, Double Bay penthouse</a> of the late interior design doyen Leslie Walford. The interiors showcase the tastes of Walford, who retired just five years ago after an international career spanning five decades.
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The 7 must-know numbers of the week, starting with the median house price in Henry Lawson's home town

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Cassidy Knowlton

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